Pennsylvania has secured a $20.3 million investment from Mitsubishi Chemical Advanced Materials Inc. to expand operations in Berks County. The Commonwealth is investing $500,000 in the project, which will create 42 new jobs within the next three years and retain 441 existing, full-time positions in Pennsylvania.
“This investment reflects Mitsubishi Chemical’s long-term commitment to Pennsylvania and expanding advanced manufacturing in the region,” said Daniel Barish, President of Mitsubishi Chemicals Advanced Materials Inc., Americas. “By establishing a Center of Excellence for the extrusion of general and advanced engineering plastics, we are strengthening our innovation capabilities while creating high-quality jobs and new opportunities for local communities. We appreciate the partnership with the Commonwealth and look forward to contributing to sustained economic growth across the region.”
Mitsubishi Chemical Advanced Materials, a leading global manufacturer of high-performance thermoplastics and composites, is expanding its operations at 2120 Fairmount Avenue in Reading through renovations to its existing site, construction of an adjacent facility, and the installation of new machinery and equipment to support the manufacturing of specialty engineering thermoplastics and composites.
Coordinated by the BusinessPA team, Mitsubishi Chemical received a funding proposal from the Pennsylvania Department of Community and Economic Development (DCED) for a $500,000 Pennsylvania First grant.
DCED Secretary Rick Siger visited the Reading facility to help celebrate the company’s expansion.
“Mitsubishi Chemical Advanced Material’s expansion in the City of Reading is creating new job opportunities, strengthening Pennsylvania’s manufacturing sector, and reinforcing the Commonwealth’s reputation as a great place to do business,” said Secretary Siger.
Mitsubishi Chemical Advanced Materials, a subsidiary of Tokyo, Japan-based Mitsubishi Chemical Group, manufactures high-performance thermoplastics and composites for a wide range of applications and industries. The company specializes in the production, processing, and application of engineering plastics and innovative composite materials.
